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Energy bills to stay high for six more years

Energy bills are expected to remain high for at least six years due to ageing gas power stations and delays in new nuclear plant construction, according to a new report

Energy bills will remain significantly higher for at least the next six years.

That’s according to a new analysis by Cornwall Insight, which suggests this is due to the ageing of gas-fired power stations and delays in building new nuclear plants.

The cost paid to electricity generators to maintain a stable supply will be at least £51 per kilowatt annually until the end of the decade.

Currently, this rate is £18 per kilowatt.

The capacity market scheme pays subsidies to conventional power stations to stay open as a backup for renewable energy suppliers, securing most of the needed energy four years in advance.

A few days ago, the Chair of energy regulator Ofgem warned that British energy bills are unlikely to decrease significantly over the next decade.

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